Timeline for What is the effect of removing certain denomination of a currency?
Current License: CC BY-SA 4.0
9 events
| when toggle format | what | by | license | comment | |
|---|---|---|---|---|---|
| May 23, 2023 at 15:49 | comment | added | Barmar | @ohwilleke And to put that in perspective, average Indian salary is about 1/10 average US salary. | |
| May 21, 2023 at 10:32 | comment | added | Fred | One effect of not having large denominated banknotes is it makes it more difficult for organized crime figures to move cash. The larger the denomination of banknote, the smaller the pile of cash, for a given amount of money. | |
| May 20, 2023 at 16:14 | comment | added | dan04 | The USA did it back in 1969. | |
| May 20, 2023 at 10:21 | answer | added | alamar | timeline score: -4 | |
| May 19, 2023 at 23:15 | comment | added | ohwilleke♦ | FYI, at today's exchange rates 2000 rupees is worth about $24 U.S. and 500 rupees is worth about $6 U.S. | |
| May 19, 2023 at 23:13 | comment | added | ohwilleke♦ | "Typically, when stuff like this happens, the explanation is that the attempt is to combat black money." Often its a matter of administrative cost, especially for small denominations, where the cost of printing it or minting it exceeds its value, or where the currency printing manufacturing process can be made much cheaper with fewer kinds to print. As long as its in circulation you need cash processing systems that can deal with more denominations. See also usatoday.com/story/money/2023/01/04/… | |
| May 19, 2023 at 22:06 | comment | added | Barmar | This question might be more appropriate in Economics | |
| May 19, 2023 at 21:43 | history | edited | Rick Smith |
edited tags
|
|
| May 19, 2023 at 21:12 | history | asked | Brian | CC BY-SA 4.0 |